defeated - the only option

crumbling

hello all.
apologies for introducing myself at such an ungodly hour but sleep doesn't come easy when stressed!

soooooo, i've done the debt remedy form online from cccs and i will be calling them on monday for some more advise. my options were bankruptcy or write to my creditors and offer £1 per month (yes, it IS that bad - accident, loss of job, divorce, illness and total and utter denial, thinking that i'd be well enough soon and could get myself back on track........:o).

my only income is child benefit, maintenance and incapacity benefit. my worry right now is when or where or how to open a bank account to have this paid into as if it continues to go into my normal bank, i'll have absolutely zero to live on.

is there really light at the end of the tunnel?

thank you for taking time to read this.

Hannah_10

my worry right now is when or where or how to open a bank account to have this paid into as if it continues to go into my normal bank, i'll have absolutely zero to live on.

Oh good, an easy question, I ought to be able to answer that one quite quickly and you can hit the hot milk.

Gimme a list of the names of the companies you owe money to?

Money_maker

Sorry to hear your troubles but starting to deal with them is the right way forward - you can take control.

https://forums.moneysavingexpert.com/discussion/319736 - here's a link to the basic bank account thread which you may like to look at.

Perhaps you can apply for an account on monday (either basic or regular) but make sure you dont use a bank associated with your current one.
The CCCS were brilliant for us, make sure you have every up to date amount owing to hand. You could post a SOA if you want the regular peeps to have a look through and see if they can help.

There is light at the end of the tunnel - took us a long time to get there. But by then your thinking will have changed and you will live a frugal lifestyle by habit. The regulars will probably have a look at this in the next day or two so keep checking back.

scaredy_cat

you need to open a basic account with a bank not affiliated with your current one. Like, Abbey and Alliance and Leicester are both part of Santander.

I opened a Nat West basic account online so you don't have to go in branch.

crumbling

Hannah_10 wrote: »

Oh good, an easy question, I ought to be able to answer that one quite quickly and you can hit the hot milk.

Gimme a list of the names of the companies you owe money to?

first smile in ages!!!

i owe lloyds tsb, virgin money, halifax and barclaycard.

some of the stuff i've been reading says not to open an account until the order is agreed or it may also be frozen - hence my confusion.......how can i open one after i've been declared bankrupt?

crumbling

Money_maker wrote: »

Sorry to hear your troubles but starting to deal with them is the right way forward - you can take control.


Perhaps you can apply for an account on monday (either basic or regular) but make sure you dont use a bank associated with your current one.
The CCCS were brilliant for us, make sure you have every up to date amount owing to hand. You could post a SOA if you want the regular peeps to have a look through and see if they can help.

There is light at the end of the tunnel - took us a long time to get there. But by then your thinking will have changed and you will live a frugal lifestyle by habit. The regulars will probably have a look at this in the next day or two so keep checking back.

thank you. just finding out which bank i won't be upsetting thats difficult:eek: can't believe how many of them are affiliated!

Hannah_10

Hey go wild, you've missed shedloads of whole banking groups out! That leaves this lot (yes not all of them are banks)...

You've got so many you might have to drop bits in a hat! Although out of the ones you've got available the one that stands out as lovely to people like you and me (in it up to the ears) are the Co-Op. Thier ultra basic account is called cashminder, have a nice link. http://ask.co-operativebank.co.uk/help/current_accounts/cash_apply


The Co-Operative Financial Services Group:

• Britannia Building Society
• all Co-Operative brands.
• Smile

HSBC Banking group:

• First Direct
• HSBC
• John Lewis Partnership Card
• Marks and Spencer Money
• The Midland Bank

National Bank Group Australia:

• Barnsley Building Society
• Chelsea Building Society
• Clydesdale Bank
• Yorkshire Bank

Nationwide Building Society Group:

• Cheshire Building Society
• Derbyshire Building Society
• Dunfirmlineshire Building Society
• Nationwide

Santander Banking Group:

• Abbey
• Alliance & Leicester
• Asda
• Bradford & Bingley
• Cahoot
• Carter Allen Private Bank
• Santander

Skipton Building Society Group:

• Scarborough Building Society
• Skipton Building Society

Got any harder questions? :cool:

3Dogs

The Co-Op CashMinder account is recommended by many on here - it can be applied for by phone or in branch - it is a basic account offering a debit card, but no cheque book or overdraft. If you do not have any debts linked to Nat West of RBoS then Nat Wet do a Step account, same details as above - open online or in branch. With either bank, you should have an account within 24 hours

Wherever you go, make sure that you tell them you want a BASIC account and not a current account - there is no credit check on a basic account, just an ID check, and banks must offer them, though some are better than others

Good luck with sorting it all out and make sure you post back and report how things are going

Hannah_10

crumbling wrote: »

some of the stuff i've been reading says not to open an account until the order is agreed or it may also be frozen - hence my confusion.......how can i open one after i've been declared bankrupt?

There is a person that makes decisions on freezing things, he or she is called the Official Receiver. They are human, they know you need to eat, open a basic account. Also- some banks will even give a bankrupt person an account (Co-Op cashminder is one of them actually).

crumbling

y'know folks, i'm sooooooo glad i posted on here - you guys are so friendly and helpful:T

if i could get an account that would let me have my life insurance and car insurance via direct debit, that would be perfect. any likelihood do you think?

don't want an overdraft or debit card (just a cash card). nor a cheque book (does an bank still issue these anyway?!!!).

Hannah_10

if i could get an account that would let me have my life insurance and car insurance via direct debit, that would be perfect. any likelihood do you think?

Oh God yeah, a basic account is by definition just like a normal account, except it has no credit facillities and no fees.

It says "Visa Debit", "Solo" or "Visa Electron" on your bank card not "Maestro" or "Visa"... Which makes next to no difference as practically everywhere accepts them anyhow. As to what exactly it will say on the card- ask your bank of choice before applying, they will happily tell you.

You can still set up wages or benefits to be paid straight in, set up standing orders, direct debits... all the usual stuff. Most of them also come with phone and internet banking (although it's not a bad idea to just double check on what EXACTLY the account offers with the bank before you open, to make sure you get what's important to you).